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How the Recent Updates Will Impact the Future of Stellar Lumens (XLM)

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Stellar Lumens (XLM) began its journey as a legitimate cryptocurrency in 2014. It was introduced as an open source protocol for value exchange to the traders. The past few years were not very fructuous for this coin as the price trend was generally downward due to the overwhelming influence of Bitcoin. However, the scenario started to change from the beginning of 2018 when Bitcoin’s price plummeted unprecedentedly and a significant number of traders started to have doubts about its stability. Stellar Lumens reached its apotheosis on January the 4th of this year when its market cap crossed the 15 billion USD mark. Since then, this coin has been performing reasonably well although it has been unable to reach the magic figure once again.

Very recently, the XLM development team has taken a few initiatives in order to make this cryptocurrency protocol more efficient and advantageous to its users. Here, some of its most recent updates would be discussed in order to depict a picture of their probable impact on XLM’s future.

The USD Anchor Network Progress and Launching of SDEX:

According to the news revealed by the Reddit community of this currency, the XLM Stronghold is about to launch the first USD anchor in the blockchain system. The Stronghold exchange is dependent on the Stellar Networks designed to be intrinsic in the protocol as well as in the decentralized mechanism. Since the inception of Stellar Lumens in 2014, the Stronghold exchange platform has been supporting this coin and this event of launching a USD anchor would not be an exception as well. Once the launching is completed, the XLM holders would be able to deposit and withdraw USD from the aforementioned anchor rather easily unlike the coin swap mechanism of other coins. This USD anchor, combined with inexpensive transaction system of this platform, is likely to facilitate a swift exchange with various other assets.

Besides launching the USD anchor, the Stellar Development Platform (SDF) is also about to launch their own decentralized exchange named Stellar Decentralised Exchange or SDEX. Both of these upgrades are likely to be completed shortly.

Negotiations to Purchase Chain:

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The Stellar team is currently negotiating in order to purchase Chain, a reputed firm based in the San Francisco area that predominantly focuses on the blockchain technology. This firm is well-known in the crypto-world for designing the Sequence platform which is basically a ledger capable of securely tracking and transferring balances in a token format. If the XLM team becomes able to secure this deal after negotiation, Sequence would make Stellar’s blockchain system accessible to the software development enthusiast. As an obvious ramification, the platform focus would shift from ledger infrastructure to product scaling.

If the deal goes through successfully, the mode of payment would manifestly be XLM, the default currency of Stellar Lumens platform. As a result, the usability of this currency as a legitimate medium of payment and transaction would be promulgated to myriads of traders across the world. The Stellar platform has already been able to raise a significant amount of money (over 43 million USD), majorly because of the support from organizations like Citi Ventures, VISA, NASDAQ, and many others. The Stellar team has also announced giving away a total of $500 worth of XLM coins once this deal is closed which would certainly augment its circulation and popularity further.

Other Notable Upgrades:

This cryptocurrency has been engaged in several lucrative partnerships over the past few months and awaiting profitable outcomes from them. For example, in May 2018, IBM strongly indicated the fact that they have been working on a brand new cryptocurrency based on the blockchain ecosystem of Stellar Lumens. Also, Kik, a familiar name in the messaging and chat sector has also mentioned their interest in designing a cryptocurrency based on the same platform.

On June 22 of this year, a reputed Philippines based bank RCBC opted for Stellar instead of Ripple as a medium of transaction. Also, XLM is one among the top seven cryptocurrencies that are expected to be legalized in Thailand shortly.

Current Condition of Stellar:

As of 26th June 2018, Stellar Lumens holds the seventh position on the Coinmarketcap with a commendable market capitalization of circa 3.6 billion USD along with a price equivalent to nearly $0.19. Despite the universal downward trend in the cryptocurrency market, XLM has managed to exhibit some resilience in its price.

Final Thoughts:

Owing to the volatility of the cryptocurrency market, it is nearly impossible to predict the future of a coin accurately. According to many speculators, the price of Stellar is likely to dip a bit because of the $500 giveaway once this Chain purchase deal is done. However, after that sudden dip, the price is likely to go upward again rather expeditiously because of the new developments. Keeping these new upgrades in mind, it can be inferred that traders can still put their trust on this coin in 2018.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Litecoin Cash (LCC): The potential mover?

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Litecoin Cash
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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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The Stage is Set for Stellar XLM vs XRP

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XLM vs XRP
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The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

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